Cardlytics, Inc. (CDLX) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CDLX SEC filings page.
Cardlytics, Inc. (CDLX) reported $190.0M in revenue over the twelve months to Jun 30, 2026, down 25.6% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cardlytics remains loss-making, but 2025 cost reductions and positive operating cash flow changed its near-term financial profile.
Revenue fell16.2% in FY2025, yet operating margin improved to-43.7% ; the recovery came from a smaller cost base, not sales growth. That pattern is consistent with cost contraction rather than growth-led leverage.
The accounting loss was
Short-term liquidity improved, with the current ratio reaching 1.8x from 1.2x in FY2024. But solvency weakened: liabilities of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Cardlytics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cardlytics, Inc. has an operating margin of -43.6%, meaning the company loses $44 on every $100 of revenue. This results in a profitability score of 19/100. This is up from -70.3% the prior year.
Cardlytics, Inc.'s revenue declined 16.2% year-over-year, from $278.3M to $233.3M. This contraction results in a growth score of 7/100.
Cardlytics, Inc.'s current ratio of 1.75 indicates adequate short-term liquidity, earning a score of 51/100. The company can meet its near-term obligations, though with limited headroom.
Cardlytics, Inc.'s free cash flow margin of 3.8% results in a low score of 27/100. Capital expenditures of $480K absorb a large share of operating cash flow.
Cardlytics, Inc. scores -6.97, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($12.7M) relative to total liabilities ($292.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Cardlytics, Inc. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
Cardlytics, Inc. reported a net loss of $104.0M while generating $9.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Cardlytics, Inc. reported an operating loss of $101.8M against $10.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Cardlytics, Inc. generated $36.9M in revenue in Q2 2026. This represents a decrease of 36.5% from the same quarter a year earlier. Against the prior quarter it is up 7.5%.
Cardlytics, Inc.'s EBITDA was -$1.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 74.1% from the same quarter a year earlier. Against the prior quarter it is up 64.2%.
Cardlytics, Inc. reported -$14.9M in net income in Q2 2026. This represents a decrease of 60.2% from the same quarter a year earlier. Against the prior quarter it is down 232.1%.
Cash & Balance Sheet
Cardlytics, Inc. recorded an outflow of $8.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 1052.3% from the same quarter a year earlier. Against the prior quarter it is down 51.7%.
Cardlytics, Inc. held $28.0M in cash against $184.4M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Cardlytics, Inc.'s operating margin was -14.8% in Q2 2026, reflecting core business profitability. This is up 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 9.4 percentage points.
Cardlytics, Inc.'s net profit margin was -40.3% in Q2 2026, showing the share of revenue converted to profit. This is down 24.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 27.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Cardlytics, Inc. invested $5.5M in research and development in Q2 2026. This represents a decrease of 43.9% from the same quarter a year earlier. Against the prior quarter it is down 13.8%.
Cardlytics, Inc. invested $2K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 99.4% from the same quarter a year earlier. Against the prior quarter it is down 92.9%.
Not reported for Q2 2026.
CDLX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $36.9M-36.5% | $34.3M-39.2% | $66.8M-9.8% | $52.0M-22.4% | $58.0M-16.7% | $56.4M-16.5% | $74.0M-17.0% | $67.1M-15.1% |
| R&D Expenses | $5.5M-43.9% | $6.4M-37.4% | $10.8M+9.4% | $8.8M-33.3% | $9.9M-26.7% | $10.3M-21.2% | $9.9M-20.9% | $13.2M+6.1% |
| SG&A Expenses | $7.9M-35.8% | $8.3M-36.0% | $11.2M-18.4% | $10.9M-10.1% | $12.2M-24.2% | $12.9M-10.6% | $13.8M-1.0% | $12.1M-22.4% |
| Operating Income | -$5.4M+43.1% | -$8.3M+25.6% | -$12.3M-47.7% | -$68.9M+53.6% | -$9.6M+39.5% | -$11.1M+51.3% | -$8.3M+91.9% | -$148.5M-619.3% |
| EBITDA | -$1.4M+74.1% | -$3.9M+20.1% | -$4.0M-70.1% | -$62.4M+55.9% | -$5.3M+42.6% | -$4.8M+70.9% | -$2.4M+97.5% | -$141.6M-865.6% |
| Interest Expense | $2.5M+4.2% | $2.8M+16.7% | -$18.3M-679.1% | $2.9M+20.8% | $2.4M0.0% | $2.4M+155.3% | $3.2M+235.8% | $2.4M+155.3% |
| Income Tax | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Net Income | -$14.9M-60.2% | -$4.5M+66.3% | -$8.8M+42.7% | -$72.7M+49.9% | -$9.3M-118.1% | -$13.3M+45.3% | -$15.3M+84.9% | -$145.2M-505.8% |
| EPS (Basic) | -$1.50-733.3% | -$0.25+3.8% | -$0.14+44.0% | -$1.36+53.1% | -$0.18-100.0% | -$0.26+53.6% | -$0.25+90.9% | -$2.90-360.3% |
| EPS (Diluted) | -$1.50 | -$0.25 | -$0.14+44.0% | -$1.36+53.1% | -$0.18-100.0% | -$0.26+53.6% | -$0.25 | -$2.90-360.3% |
| Diluted Shares (Avg) | 6M | 55M | N/A | 53M+6.9% | 5M-89.2% | 52M+19.9% | N/A | 50M+31.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
CDLX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $234.8M-35.0% | $263.9M-28.5% | $285.6M-27.3% | $292.8M-26.7% | $361.1M-32.4% | $369.1M-35.1% | $392.7M-31.6% | $399.4M-37.1% |
| Current Assets | $101.1M-32.8% | $128.5M-18.1% | $137.3M-22.9% | $140.7M-23.2% | $150.4M-18.8% | $156.8M-28.1% | $178.0M-20.5% | $183.3M-10.8% |
| Cash & Equivalents | $28.0M-40.0% | $35.7M-31.5% | $48.7M-25.7% | $44.0M-34.4% | $46.7M-34.4% | $52.0M-46.8% | $65.6M-28.6% | $67.0M-25.6% |
| Short-Term Investments | $0 | $24.1M | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $67.6M-27.4% | $63.1M-34.4% | $82.5M-20.1% | $85.5M-19.0% | $93.2M-9.2% | $96.1M-8.6% | $103.3M-14.4% | $105.6M+2.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $110.3M-30.8% | $110.3M-30.8% | $110.3M-30.8% | $110.3M-30.8% | $159.4M-42.5% | $159.4M-42.5% | $159.4M-42.5% | $159.4M-54.8% |
| Total Liabilities | $250.8M-17.1% | $267.9M-12.2% | $292.1M-9.5% | $297.5M-9.8% | $302.4M-6.8% | $305.0M-17.5% | $322.7M-26.5% | $329.7M-19.5% |
| Current Liabilities | $62.4M-51.7% | $59.4M-55.0% | $78.4M-47.4% | $123.7M-20.7% | $129.1M+23.5% | $131.9M+28.6% | $149.0M-13.0% | $155.9M-13.1% |
| Non-Current Liabilities | $188.4M+8.7% | $208.6M+20.5% | $213.8M+23.0% | $173.8M0.0% | $173.3M-21.1% | $173.1M-35.2% | $173.8M-35.2% | $173.8M-24.5% |
| Long-Term Debt | $184.4M-13.9% | $204.2M-4.6% | $208.9M-2.2% | $214.6M+0.7% | $214.3M+0.7% | $213.9M-17.0% | $213.6M-17.1% | $213.2M-17.1% |
| Total Equity | -$16.0M-127.3% | -$4.0M-106.2% | -$6.5M-109.3% | -$4.7M-106.7% | $58.7M-72.0% | $64.1M-67.8% | $70.0M-48.1% | $69.7M-69.1% |
| Retained Earnings | -$1.4B-7.6% | -$1.4B-7.2% | -$1.4B-8.0% | -$1.4B-8.6% | -$1.3B-16.1% | -$1.3B-15.7% | -$1.3B-17.0% | -$1.3B-27.2% |
Not reported in any period shown, so not listed: Inventory.
CDLX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$8.6M-801.8% | -$5.6M+15.9% | $13.0M+336.7% | $1.8M+27.1% | $1.2M-72.3% | -$6.7M+61.9% | $3.0M+1.5% | $1.4M+16.0% |
| Depreciation & Amortization | $4.1M-4.3% | $4.4M-29.8% | $6.2M+4.5% | $6.5M-7.1% | $4.2M-35.0% | $6.3M+0.7% | $5.9M-11.3% | $7.0M+16.4% |
| Stock-Based Compensation | $2.4M-68.6% | $4.8M-44.5% | N/A | $6.4M-20.4% | $7.5M-40.7% | $8.7M-20.9% | N/A | $8.1M-21.3% |
| Capital Expenditures | $2K-99.4% | $28K-76.5% | $25K-79.7% | $14K-97.2% | $322K+14.6% | $119K-81.7% | $123K-55.1% | $507K+894.1% |
| Free Cash Flow | -$8.6M-1052.3% | -$5.7M+16.9% | $13.0M+354.7% | $1.7M+99.0% | $903K-78.2% | -$6.8M+62.6% | $2.9M+7.4% | $878K-23.2% |
| Investing Cash Flow | $20.9M+549.2% | -$2.3M+41.0% | -$2.3M+44.3% | -$4.5M+15.1% | -$4.7M0.0% | -$3.9M+17.8% | -$4.1M-198.9% | -$5.3M-67.1% |
| Financing Cash Flow | -$20.1M-875.1% | -$5.0M-65.5% | -$6.0M-2878.7% | -$12K+96.9% | -$2.1M+92.2% | -$3.0M-110.7% | -$202K-520.8% | -$388K-1947.6% |
| Share Buybacks | N/A | N/A | N/A | $0-100.0% | N/A | N/A | -$309K+432.8% | $119K+105.2% |
Not reported in any period shown, so not listed: Dividends Paid.
CDLX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -14.8%+1.7pp | -24.1%-4.4pp | -18.4%-7.2pp | -132.3% | -16.5%+6.2pp | -19.7%+14.1pp | -11.2% | -221.5% |
| Net Margin | -40.3%-24.3pp | -13.1%+10.5pp | -13.1%+7.5pp | -139.7% | -16.0%-9.9pp | -23.5%+12.4pp | -20.7% | -216.5% |
| Return on Equity | N/A | N/A | N/A | N/A | -15.8%-13.8pp | -20.7%-8.5pp | -21.8%+53.2pp | -208.3%-197.7pp |
| Return on Assets | -6.3%-3.8pp | -1.7%+1.9pp | -3.1%+0.8pp | -24.8%+11.5pp | -2.6%-1.8pp | -3.6%+0.7pp | -3.9%+13.7pp | -36.4%-32.6pp |
| Current Ratio | 1.62+0.5x | 2.17+1.0x | 1.75+0.6x | 1.140.0x | 1.16-0.6x | 1.19-0.9x | 1.19-0.1x | 1.180.0x |
| Debt-to-Equity | N/A | N/A | N/A | N/A | 3.65+2.6x | 3.34+2.0x | 3.05+1.1x | 3.06+1.9x |
| Asset Turnover | 0.160.0x | 0.130.0x | 0.230.0x | 0.180.0x | 0.160.0x | 0.150.0x | 0.190.0x | 0.170.0x |
| FCF Margin | -23.3%-24.9pp | -16.5%-4.4pp | 19.4%+15.6pp | 3.4%+2.0pp | 1.6%-4.4pp | -12.1%+14.9pp | 3.9%+0.9pp | 1.3%-0.1pp |
Not reported in any period shown, so not listed: Gross Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Note: Shareholder equity is negative (-$6.5M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Cardlytics, Inc. CDLX | FY2025 | $233.3M | -$104.0M | -44.6% | $12.7M | 24/100 |
| Thumzup Media Corporation TZUP | FY2025 | $7.0M | -$8.5M | N/A | $75.3M | 47/100 |
| Marchex, Inc. MCHX | FY2025 | $45.4M | -$5.2M | -11.5% | $58.1M | 50/100 |
| TOWNSQUARE MEDIA, INC. TSQ | FY2025 | $427.4M | -$11.5M | -2.7% | $75.8M | 31/100 |
| VS Media Holdings Limited VSME | FY2025 | $7.5M | -$8.6M | N/A | $3.6M | 33/100 |
| Fluent, Inc. FLNT | FY2025 | $208.8M | -$27.2M | -13.0% | $88.8M | 27/100 |
Where Cardlytics, Inc. Ranks
Frequently Asked Questions
What is Cardlytics, Inc.'s annual revenue?
Cardlytics, Inc. (CDLX) reported $233.3M in total revenue for fiscal year 2025. This represents a -16.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cardlytics, Inc.'s revenue growing?
Cardlytics, Inc. (CDLX) revenue declined by 16.2% year-over-year, from $278.3M to $233.3M in fiscal year 2025.
Is Cardlytics, Inc. profitable?
No, Cardlytics, Inc. (CDLX) reported a net income of -$104.0M in fiscal year 2025, with a net profit margin of -44.6%.
What is Cardlytics, Inc.'s EBITDA?
Cardlytics, Inc. (CDLX) had EBITDA of -$76.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cardlytics, Inc. have?
As of fiscal year 2025, Cardlytics, Inc. (CDLX) had $48.7M in cash and equivalents against $208.9M in long-term debt.
What is Cardlytics, Inc.'s operating margin?
Cardlytics, Inc. (CDLX) had an operating margin of -43.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cardlytics, Inc.'s net profit margin?
Cardlytics, Inc. (CDLX) had a net profit margin of -44.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cardlytics, Inc.'s free cash flow?
Cardlytics, Inc. (CDLX) generated $8.8M in free cash flow during fiscal year 2025. This represents a 184.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cardlytics, Inc.'s operating cash flow?
Cardlytics, Inc. (CDLX) generated $9.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cardlytics, Inc.'s total assets?
Cardlytics, Inc. (CDLX) had $285.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cardlytics, Inc.'s capital expenditures?
Cardlytics, Inc. (CDLX) invested $480K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cardlytics, Inc. spend on research and development?
Cardlytics, Inc. (CDLX) invested $39.8M in research and development during fiscal year 2025.
What is Cardlytics, Inc.'s current ratio?
Cardlytics, Inc. (CDLX) had a current ratio of 1.75 as of fiscal year 2025, which is generally considered healthy.
What is Cardlytics, Inc.'s return on assets (ROA)?
Cardlytics, Inc. (CDLX) had a return on assets of -36.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cardlytics, Inc.'s P/E ratio?
Cardlytics, Inc. (CDLX) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $12.7M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Cardlytics, Inc.'s price-to-sales ratio?
Cardlytics, Inc. (CDLX) trades at 0.1x sales, its market capitalization divided by revenue of $190.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $12.7M as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Cardlytics, Inc.'s debt-to-equity ratio negative or not reported?
Cardlytics, Inc. (CDLX) has negative shareholder equity of -$6.5M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Cardlytics, Inc.'s Altman Z-Score?
Cardlytics, Inc. (CDLX) has an Altman Z-Score of -6.97, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cardlytics, Inc.'s Piotroski F-Score?
Cardlytics, Inc. (CDLX) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cardlytics, Inc.'s earnings high quality?
Cardlytics, Inc. (CDLX) reported a net loss of $104.0M while generating $9.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cardlytics, Inc. cover its interest payments?
Cardlytics, Inc. (CDLX) reported an operating loss of $101.8M against $10.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cardlytics, Inc.?
Cardlytics, Inc. (CDLX) scores 24 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.